Quantitative Finance Analyst - Consumer Credit Card Models
Atlanta;Charlotte, North Carolina
**Job Description:**
At Bank of America, models are used for a broad range of activities, including but not limited to valuation, risk management, capital and liquidity planning, stress testing, underwriting and other strategic or day-to-day decision-making purposes. Bank of America recognizes the risk and uncertainty associated with the use of its models and the need to effectively manage this risk both at an individual level and in the aggregate.
The Model Risk Management (MRM) Team provides oversight for model risk across Bank of America's model inventory. The MRM Team independently validates and challenges newly developed and existing models; is responsible for model risk assessments, limits, and monitoring; communicates issues identified through validations to relevant businesses and governance and control functions; and escalates model use breaches and remediation plans to relevant governance committees.
Enterprise Model Risk Management seeks a quantitative finance analyst to conduct independent testing and review of complex consumer predictive models (e.g., consumer credit card, consumer vehicle lending). The qualified candidate will be responsible for a broad range of model validation activities, including:
+ Review, critical assessment, and challenge of models on conceptual soundness, assumptions and limitations, data, developmental evidence in support of modeling choices, performance, implementation, and documentation
+ Development and implementation of effective testing plans and testing code to critically challenge models through empirical analyses and to verify model implementation
+ Review and critical assessment of ongoing model monitoring activities
+ Writing of technical reports for distribution and presentation to model developers, senior management, audit, and banking regulators
**Qualifications:**
+ Minimum of masters degree in Statistics, Economics, Mathematics, Finance, Engineering, Physics, Computer Science / Machine Learning, or related field
+ Background and experience with complex, account-level predictive models and familiarity with retail products such as credit card
+ Strong knowledge in cross-sectional and time-series econometrics, analyzing large datasets using mathematical models, and statistical techniques such as Least Squares Regression, Logistics Regression, Error Correcting Models (ECM), etc.
+ Familiarity with artificial intelligence and machine learning techniques
+ Deep understanding and knowledge of model performance measures
+ Extensive programming experience using Python, SAS, R, MATLAB, SQL
+ Strong knowledge of financial instruments and financial risk management principles
+ Minimum of 3 years of experience in financial risk modeling or validation
+ Familiarity with applicable regulatory guidance on model risk management
**Job Band:**
H5
**Shift:**
1st shift (United States of America)
**Hours Per Week:**
40
**Weekly Schedule:**
**Referral Bonus Amount:**
0
**Job Description:**
At Bank of America, models are used for a broad range of activities, including but not limited to valuation, risk management, capital and liquidity planning, stress testing, underwriting and other strategic or day-to-day decision-making purposes. Bank of America recognizes the risk and uncertainty associated with the use of its models and the need to effectively manage this risk both at an individual level and in the aggregate.
The Model Risk Management (MRM) Team provides oversight for model risk across Bank of America's model inventory. The MRM Team independently validates and challenges newly developed and existing models; is responsible for model risk assessments, limits, and monitoring; communicates issues identified through validations to relevant businesses and governance and control functions; and escalates model use breaches and remediation plans to relevant governance committees.
Enterprise Model Risk Management seeks a quantitative finance analyst to conduct independent testing and review of complex consumer predictive models (e.g., consumer credit card, consumer vehicle lending). The qualified candidate will be responsible for a broad range of model validation activities, including:
+ Review, critical assessment, and challenge of models on conceptual soundness, assumptions and limitations, data, developmental evidence in support of modeling choices, performance, implementation, and documentation
+ Development and implementation of effective testing plans and testing code to critically challenge models through empirical analyses and to verify model implementation
+ Review and critical assessment of ongoing model monitoring activities
+ Writing of technical reports for distribution and presentation to model developers, senior management, audit, and banking regulators
**Qualifications:**
+ Minimum of masters degree in Statistics, Economics, Mathematics, Finance, Engineering, Physics, Computer Science / Machine Learning, or related field
+ Background and experience with complex, account-level predictive models and familiarity with retail products such as credit card
+ Strong knowledge in cross-sectional and time-series econometrics, analyzing large datasets using mathematical models, and statistical techniques such as Least Squares Regression, Logistics Regression, Error Correcting Models (ECM), etc.
+ Familiarity with artificial intelligence and machine learning techniques
+ Deep understanding and knowledge of model performance measures
+ Extensive programming experience using Python, SAS, R, MATLAB, SQL
+ Strong knowledge of financial instruments and financial risk management principles
+ Minimum of 3 years of experience in financial risk modeling or validation
+ Familiarity with applicable regulatory guidance on model risk management
**Shift:**
1st shift (United States of America)
**Hours Per Week:**
40
Learn more about this role
Full time
JR-22065157
Band: H5
Manages People: No
Travel: Yes, 5% of the time
Manager:
Talent Acquisition Contact:
Taylor Pitre
Referral Bonus:
0
Bank of America and its affiliates consider for employment and hire qualified candidates without regard to race, religious creed, religion, color, sex, sexual orientation, genetic information, gender, gender identity, gender expression, age, national origin, ancestry, citizenship, protected veteran or disability status or any factor prohibited by law, and as such affirms in policy and practice to support and promote the concept of equal employment opportunity and affirmative action, in accordance with all applicable federal, state, provincial and municipal laws. The company also prohibits discrimination on other bases such as medical condition, marital status or any other factor that is irrelevant to the performance of our teammates.
To view the "EEO is the Law" poster, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/eeopost.pdf) .
To view the "EEO is the Law" Supplement, CLICK HERE (https://www.dol.gov/ofccp/regs/compliance/posters/pdf/OFCCP\_EEO\_Supplement\_Final\_JRF\_QA\_508c.pdf) .
Bank of America aims to create a workplace free from the dangers and resulting consequences of illegal and illicit drug use and alcohol abuse. Our Drug-Free Workplace and Alcohol Policy (Policy) establishes requirements to prevent the presence or use of illegal or illicit drugs or unauthorized alcohol on Bank of America premises and to provide a safe work environment.
To view Bank of Americas Drug-free workplace and alcohol policy, CLICK HERE .
